Read the following case study and answer questions.

What do you need to be a business person? Was the opening question the anchor of a television interview asked to an eminent business personality. "Cash" she heard and thought that her interview is going to be a spoil. For it was an answer so obvious and exhaustive that there was not anything else to talk and or this is what she thought.

The entrepreneur saved her day "young lady" he continued "you seem to have got it wrong. What I meant was not c_a_s_h = cash but K_A_S_H= KASH!"

Interview was off to a flying start. And the interviewer went onto elaborate what he meant K= Knowledge, A=Attitude, S= Skill and H= Habits.

Thus Entrepreneur should be confident enough having attitudes related to innovation, persuasion, research etc. He/She is the person who takes risk about future which is uncertain so he must have the required competencies to contribute to the development of the nation.

Entrepreneurship competencies do not include:

Concern for average quality of work

EDI has identified a set of 15 competencies that contribute toward entrepreneurial performance and success. These are briefly stated hereunder.

1. Initiative: Acting out of choice rather than compulsion, taking the lead rather than waiting for others to start.
2. Sees and Acts on Opportunities: A mindset where one is trained to look for business opportunities from everyday experiences.
3. Efficiency Orientation: Concern for conservation of time, money and effort.
4. Systematic Planning: Breaking up the complex whole into parts, close examination of the parts and inferring about the whole; e.g. simultaneously attending to production, marketing and financial aspects (parts) of the overall business strategy (the whole).
5. Persistence: A ‘never say die’ attitude, not giving up easily, striving continuously until success is achieved.
6. Information seeking: Knowing and knowing who knows, consulting experts, reading relevant material and an overall openness to ideas and information.
7. Concern for High Quality of Work: Attention to details and observance of established standards and norms. Commitment to Work Contract: Taking personal pains to complete a task as scheduled.
8. Problem-solving: Observing the symptoms, diagnosing and curing.
9. Self-confidence: Not being afraid of the risks associated with business and relying on one’s capabilities to successfully manage these.
10. Assertiveness: Conveying emphatically one’s vision and convincing others of its value.
11. Commitment to Work Contract: Taking personal pains to complete a task as scheduled
12. Persuasion: Eliciting support of others in the venture.
13. Use of Influence Strategies: Providing leadership.
14. Monitoring: Ensuring the progress of the venture as planned.
15. Concern for Employee Welfare: Believing in employee well being as the key to  competitiveness and success and initiating programmes of employee welfare.